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Dear Hulumas,
I believe some SJ forumers (including me) would love to hear your opinions about this company that you value so much.
We as well want to HUAT like you...
Hulumas ( Date: 03-Mar-2007 18:09) Posted:
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Dear Henry$$$,
As you said. It should be a good time to let QDII funds as a WHITE-KNIGHT rescuer to restore a good immage of all S-stocks (Chinese related listed stocks in SGX) hopefully!!! Who knows??? We could only pray for it!!!
I regret in buying in counters. Nowadays, no penny and S counters for me. High risk, even though somebody said it has bright future!! Trap!!
Left a few months before the Rat year....
JiJi still can go up, Hulumas?
Hi All Gururs
This counter me also "OR BARK KARK".
Holding for more than a year.
Any good news, do not hesiate to share.
ZJilong is given. I dont mind it. It's free. It will become everyones' concern when it is suspended for years! The monthly charges will cut you deep if other stocks does not perform to cover the fees. Fortunately, it will take umpteen years for the bank to eat up my prifit this way. Still, we have to be careful.
Sad to know that many of us got stuck in this counter be it..CPF or hard earned cash. Anyway, can somebody out there could enlighten the future of this counter......any chance of it to be resumed trading.
Since the JM was imposed a few weeks back, there is no news from the JM's managers on the update of the company. The only blessing was that RABO Bank has withdrawn the winding up petition. Therefore, there is still some light at the end of the tunnel, hopefully.
Also, I do not understand since QAF has distributed dividends using Zhongguo Jilong shares then now it has been suspended and under JM, how come the shareholders of QAF never take any action or concern? Ultimately, all QAF shareholders having Zhongguo Jilong shares become worthless, they would rather take cash instead.This is like forcing someone to take up a raw deal.
Can anybody enlighten on the above? Thanks.
Once the stock got suspension, if you invest with CPF account, they will still need to maintain the investment account and thus charge u a few $$ of admin charges, this is why the Bank stock kept earning the revenues. And u need to service it until they lift up the suspension and able to trade again. It is the same as UnitTrust Fund account using CPF investment. FYI.
Cant trade and its credited to the CPF account, generating income for the bank as monthly charge. Silly. Shall contact the bank to just remove the share as it does not hold much value.
Dear Hulumas,
Any comment on Zhongguo Jilong since it was under JM? Do you think any chance for it to resume trading again.
Anybody care to comment on this stock????
Thanks.
Dear Readers,
We all know that the court hearing between Rabo Bank and Zhongguo Jilong on 26 June 07 has been vacated until further notice. Can anyone enlighten what will be the next course of action Zhilong will take? I believe everyone of us is concern when will the suspension be lifted so as to resume trading. Any comment?
Hi lecithin,
A strong management with heart to steer the problem and bring back it to life is important in such situation. Imagine if you dispose your shares of the company one after another, then you could easily induce the answer to your question.
Investor IR and Actual are 2 different things. U can only find both in world class firm.
Dear Zhuge_Liang,
Thanks for the info as we already know the situation. However, based on their previous projection and business plan on new peanut oil production plus revamp of the management and operations it seemed that the business will pick up. Then why the company is in trouble of not servicing the debt. Very strange??? Can anyone comment.
Also, I assume the company is still in operation in China.....business is as usal..then how come they don't work out a payment plan with Rabo as they have indicated in their previous annoucement some time back that "The Directors are working out a payment schedule with Rabo"..etc..
The troubled company has come under interim judicial management following a petition filed on behalf of Rabobank by law firm Allen & Gledhill's Ashok Kumar for the appointment of Ernst & Young as interim judicial manager (IJM). The Dutch bank has also applied for judicial management for the company. The latest action comes just over 2 months after Rabobank, on 22 Feb, filed a winding-up petition against the company for not making 'payment of the sum demanded within the time stipulated in the letter of demand dated 9 Jan 2007'. The amount in dispute is believed to be in the region of $10m.
Dear Hulumas,
At this juncture, we cannot do anything....but to wait for the counter to resume trading. Hope that your prediction is right..... Just pray hard for all JL's investors do not loose money.
Hotstock - Thanks for your comment.
Dear Lecithin,
We have to see as this is a long processs. I would urge you to check the chairmanship of JL and other the companies that he serves now and previously. There is a lot of similarity. Hope you are not tied up with those stock too.
For my own research, I find something very unusual looking at the recents events in very similar situations. Also look at the transactions.
I hope I made my point implicitly. Better not say much or else got into trouble.
Dear Lecithin,
Take over, there is a way. Write off, there is no way. Still some months to wait before resuming trading most probably!
Dear Hulumas & Hotstock,
Thanks for your comment. I did analyse Jilong's financials before it was suspended...and it seemed ok. However, the concern is the US$10 million bad debt which surprised everyone who have vested in this counter. My worry is on their doubtful financials. Most of the Singapore Directors have resigned...and left only..the Singapore "Chairman" and the China CEO/Director (2 persons' Board now).
Only if the company is not bust and resume trading then at least we have some future prospect to see.....if not...then....I am afraid we have to write off....any comment?
HOTSTOCK, excellent reply, i like positive idea